Media conglomerate News Corporation is considering buying a minority stake in the bankrupt Major League Baseball team the Los Angeles Dodgers in a move designed to help its US network Fox retain the team’s local media rights after its current deal finishes at the end of the 2013 season.
The Financial Times said News Corp is interested in acquiring a stake of between 15 and 20 per cent, but would also consider financing a partner to purchase the team. However, the company is reported to have no interest in taking full ownership of the team. News Corp owned the team outright from 1998 to 2004.
Earlier this week, Fox agreed to a settle a dispute with the team, allowing the broadcaster to retain its rights until the end of 2013. The Dodgers had wanted to negotiate a new deal to boost the value of the team before it is sold. The auction of the Dodgers will be launched on January 23 and completed by April 30. It is being conducted by the court overseeing the team’s bankruptcy.